The U.S. Labor Department reported the economy created 272,000 jobs in May and the unemployment rate came in at 4%, it was 3.9% in April. It was the 40th straight month of positive job growth and the unemployment rate stayed in the 3% range for 27 straight months, longest stretch since the 1950's. The negative voices continue to play the economy and job creation down while waiting for the Fed's next move this week.
The Department also reported wages for May were up 4.1% from a year ago and well above inflation. Four years ago in May of 2020 under the Trump administration, the unemployment rate was 13.2% and in February 2020, The National Bureau of Economic Research, the arbiter of U.S. recessions reported the country entered an economic recession that month, a full month before the COVID pandemic began. That Trump recession ended the 10 straight years of economic expansion that began in 2009, a year after the Bush 43 great recession. Under the Trump administration the country lost 2.7 million jobs.
And so, my fellow Americans, after the negative voices of doom and gloom who have predicted a recession since the second quarter of 2022 and have been wrong, America and it's people are better off today, than they were under Trump four years ago.
It should be no surprise to anyone who understands the facts and to those who read PolitiDose commentary because it was all reported before it all took place. The greatest threat to the economy are the negative voices with their BS and misinformation about everything concerning the economy and the media who give more coverage to those negative voices and report little about all the positive aspects of the economy and the consumers willingness to spend.
And it was PolitiDose commentary that predicted before and early after Biden was elected that the GOP and the negative voices would begin their negative tactics soon after Biden took office. It was another first of many PolitiDose commentaries.
This commentary written by Joe Lorio
